StatPro provides a platform for users to create financial reports by analyzing multiple market sectors, including equities, bonds, options, currencies, commodities and indexes. It supports a wide range of financial reports from cross section to more granular detail, including the following: balance sheet, sector balance sheets, credit analysis, income statement, balance sheet presentation and income statement presentation. StatPro also provides the ability to build custom reports for analysis of individual securities, assets and financial metrics.
The combined entity will operate under the umbrella of Confluence Technologies and work on continuing innovation for both its client and supplier communities. The company currently works with a diverse portfolio of clients and partners across the globe, providing a complete portfolio of analytics and reporting capabilities. Its core offerings include StatPro Financial, which provide a platform for reporting on stock, index and option data; StatPro Equity, which provide a platform for analyzing equity data; and StatPro Commodity, which provide a platform for analyzing commodity data and market data.
The acquisition is the latest example of the growing popularity of StatPro among both software vendors and investors. In addition to offering an integrated analytics platform to clients and partners, StatPro has built its brand on creating unique, in-house analytics solutions for its clients. For example, in 2020 StatPro provided its clients with its own proprietary trading platform for managing and monitoring its trading activities.
With the acquisition, Confluence Technologies will work closely with its existing customers to continue to develop StatPro’s cloud analytics platform and provide additional enhancements over time. In the short term, the acquisition will allow the company to concentrate on its core business of developing and supporting a robust analytics platform. and focus on finding ways to increase its client base and grow its customer base while simultaneously finding new ways to leverage its unique selling points.
According to Matt Fitts, CEO of Confluence Technologies and an advisor to StatPro, the acquisition is expected to help the company continue to improve its competitive position in the market for enterprise software by providing it with a solid technology platform for building better products and services. Fitts believes that by combining the two companies with complementary technology and expertise, StatPro can provide clients and partners with more customized solutions. He expects StatPro’s clients and partners to see the opportunity for further expansion and long-term profitability.
“The acquisition will enable us to be able to focus on our core business of helping clients create better solutions and deliver better results for our partners,” says Fitts. “We believe this combination will allow us to continue to create cutting-edge analytics and reporting solutions that give us the advantage of both experience and technology in the market place.” The deal makes sense for our client and partner’s businesses because we believe the combined StatPro team has the potential to deliver solutions that provide more comprehensive, up to date solutions that better align with the industry and its client’s businesses’ needs.
“With the combined organization, we believe StatPro will continue to deliver more innovative and comprehensive analytics and reporting solutions that deliver more tailored services and greater value to our clients and partners,” says Fitts. “As a result, we expect that StatPro’s solutions will help us deliver even more growth in the future for both StatPro and the clients and partners we work with.” In addition to helping our client’s businesses grow in line with their expectations, we believe the acquisition will also help our existing clients and partners as well. We expect to be able to create synergies that will create a long-term business relationship for both companies.